Results 6,521-6,540 of 16,492 for speaker:Ciarán Lynch

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: If they have not completed their resolution process pending the sale of the bank, who will continue the resolution process with them?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: For those on the mortgage book who may have been able to discuss their financial situation with another financial institution in the country - let us say, one of those that comes under the regulation of the Central Bank - and have received loan approval to purchase their mortgage out of the new structure, is it envisaged that the purchasing out will draw penalties upon the buy-out?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: Was Mr. Wallace advised to get an independent valuation?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: Was Mr. Wallace also told to appoint PwC to advise in the sales strategy, or was that a decision made by the special liquidators themselves?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: Why did Mr. Wallace decide he was not competent enough to do it and had to bring in PwC?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: The Deputy’s question is simple. Will the liquidators consider putting his proposal to the bidders? How many bidders are there?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: Even the number of bidders is commercially sensitive?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: Will the liquidators ask the bidders for a bid in respect of where the code of conduct would legally apply and one in respect of its voluntary application?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: Can I clear up one thing because everybody in the room wants to know the answer to it? In respect of the timing of last night's announcement, it could be construed that this was a statement that was going to be put together before the special liquidators came before the committee today. How long have they been in negotiations with the preferred bidders with regard to a voluntary code of...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: When was the phase 2 list completed?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: Is it the case, then, that two weeks ago, the special liquidators had a list of people? We will not quantify the sum because the special liquidators say it is confidential information. The special liquidators had a list of bidders who were compliant with a voluntary code as of two weeks ago?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: When was it confirmed because the press statement went out last night?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: I ask Ms Nolan to supply the information at the earliest opportunity.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: I will allow the response before moving on.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: Before bringing in Deputy Higgins, will the witnesses clear up an issue regarding potential sales? Whether the people are with IBRC, Irish Nationwide, Ulster Bank or AIB, there is a difficulty in trying to get refinanced in order to buy a loan and get out of an existing mortgage. There may be a coterie of people who can find the financing and the liquidators could have dealt with such a...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: What percentage of the mortgage book was that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: Did that come from performing mortgages or, as described by Deputy Donnelly, parties with distressed loans or in a pre-resolution process?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: If the group of people, whether holding performing or distressed loans, were moved from the sale currently taking place, would the book be made more or less valuable? Would it be more susceptible to a vulture fund?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: I have been flexible with the Deputy's time so I ask him not to abuse it. I call Senator Barrett.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Ciarán Lynch: That concludes the contributions of committee members. We will move on to those who are in attendance at the committee, who can speak for five minutes before we have a wrap-up of composite questions. We will hear from Deputy Michelle Mulherin, followed by Deputy Luke 'Ming' Flanagan and Senator Healy Eames.